In a report released yesterday, Michael Okunewitch from Maxim Group maintained a Buy rating on COMPASS Pathways (CMPS – Research Report), with a price target of $12.00.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Michael Okunewitch has given his Buy rating due to a combination of factors surrounding COMPASS Pathways’ promising developments in their mental health treatments. The company has made significant progress with its COMP360 psilocybin therapy, particularly in the treatment of treatment-resistant depression (TRD). The completion of dosing for the COMP005 Phase 3 study and the upcoming release of topline data in June 2025 are pivotal milestones that could validate the efficacy of their treatment.
Additionally, the company’s financial position is strong, with a substantial cash reserve following a recent capital raise, ensuring funding through late 2026. This financial stability supports ongoing research and development efforts. Furthermore, the company’s strategic collaborations, such as with HealthPort, aim to enhance the accessibility and delivery of their therapies, potentially expanding their market reach. These factors collectively contribute to a positive outlook for COMPASS Pathways, justifying the Buy rating.
According to TipRanks, Okunewitch is an analyst with an average return of -23.3% and a 26.18% success rate. Okunewitch covers the Healthcare sector, focusing on stocks such as Ocugen, Longeveron, and Lineage Therap.
In another report released on May 12, H.C. Wainwright also reiterated a Buy rating on the stock with a $45.00 price target.